Array Technologies(US:ARRY)2023-03-21 21:00Financial Performance - Q4 2022 - Total revenue increased by 83% to $402.1 million, with organic revenue growth of 22%[10, 23, 24] - Gross margin significantly improved to 20.0%, a 1530 basis points increase from 4.7% in Q4 2021[10, 23, 24] - Adjusted EBITDA rose sharply to $51.7 million, compared to $0.5 million in Q4 2021[10, 23, 24] - Free cash flow reached $85.7 million, a substantial improvement of $184.2 million year-over-year[10, 23, 24] Financial Performance - Full Year 2022 - Total revenue grew by 92% to $1,637.5 million, with organic revenue growth of 49%[13, 25] - Gross margin increased to 13.9%, a 420 basis points increase from 9.7% in 2021[13, 25] - Adjusted EBITDA increased to $128.7 million, up from $43.2 million in FY 2021[13, 15, 25] - Free cash flow was $130.9 million, a $397.4 million improvement from the previous year[13, 25] FY2023 Guidance - The company anticipates revenue between $1.80 billion and $1.95 billion[28] - Adjusted EBITDA is projected to be in the range of $240 million to $265 million[28] - Adjusted net income per common share is expected to be $0.75 to $0.85[28] - The company expects free cash flow to be greater than $100 million[26]